Halliburton Says the World is Entering a Period of Oil Scarcity

"For the first time in a long time, we will see a buyer looking for a barrel of oil, as opposed to a barrel of oil looking for a buyer," Halliburton CEO Jeff Miller said at the 23rd World Petroleum Congress.

Liz Hampton, Reuters

Oilfield services firm Halliburton on Dec. 6 warned the world is headed for a period of energy scarcity following years of underinvestment in bringing more fossil fuels to market.

"For the first time in a long time, we will see a buyer looking for a barrel of oil, as opposed to a barrel of oil looking for a buyer," Halliburton CEO Jeff Miller said at an oil and gas conference in Houston.

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